Valuetainment - May 13, 2025


“No Deal is Free” - Trump & China Agree to 90 Day Tariff Pause


Episode Stats


Length

24 minutes

Words per minute

199.82526

Word count

4,803

Sentence count

507

Harmful content

Misogyny

4

sentences flagged

Hate speech

17

sentences flagged


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

On this episode of the Stock Market Movers podcast, Adam and Denny discuss the announcement of a 90 day trade pause between the United States and China, and their thoughts on who caved and who didn't.

Transcript

Transcript generated with Whisper (turbo).
Misogyny classifications generated with MilaNLProc/bert-base-uncased-ear-misogyny .
Hate speech classifications generated with facebook/roberta-hate-speech-dynabench-r4-target .
00:00:00.440 Tariffs, okay?
00:00:02.500 I'm in Orlando yesterday, and we're at the hotel, and, you know, all of a sudden, boom,
00:00:08.480 you know, we're getting news, news, news, here's what's going on, look at the market,
00:00:11.040 look at the market's reacting, market gone up, you know, 1100 points, and S&P, and all
00:00:14.940 the, Bitcoin crossed 100,000, oh my God, you know, it's going to be great, and then, you
00:00:19.460 know, while this was announced that the trade's going to be made, it says, I retweet, I tweet
00:00:26.580 and I say, I want to know the details, because I want to know what this is about, because
00:00:29.920 on Sunday, we thought it was a trade deal, but it's a pause, so let me read this to you.
00:00:35.860 U.S. and China agree to a 90-day tariff pause, so what does this mean, okay, on a 90-day
00:00:44.120 trade pause?
00:00:44.640 The U.S. Trade Representative Jamie Greer and Treasury Secretary Scott Besson announced the
00:00:48.600 U.S. agreed to drop its tariffs from 145% on Chinese goods by 115% to 3%.
00:00:56.580 to 30 points, 30%, while China agreed to lower its rate on U.S. goods by the same amount
00:01:03.480 to 10%, with Besson stating, the census from both delegations this weekend is neither side
00:01:09.300 wants a decoupling, and that high tariffs are the equivalent of an embargo.
00:01:13.920 China's Commerce Ministry said the two sides agreed to cancel 91% in tariffs on each other's
00:01:20.320 goods and suspend another 24% in tariffs for 90 days, bringing the total reduction to 115%.
00:01:26.560 percentage points.
00:01:28.280 Adding, the initiative aligns with the expectation of producers and consumers in both countries
00:01:33.620 and serves the interests of both nations as well as the common interests of the world.
00:01:38.720 Tom, your thoughts on this?
00:01:40.300 Well, first of all, what have I always been saying, Denny?
00:01:44.060 No math.
00:01:44.820 Tom, if you said anything with math, I was going to leave.
00:01:46.540 No, no, no, no, no.
00:01:47.080 No, the market goes up and down by sentiment, right?
00:01:50.100 People get a little worried about the future, or they get optimistic about the future.
00:01:53.740 The market goes up and down.
00:01:54.800 That's what's going on.
00:01:55.940 And so the market jumped because it liked the fact that now costs will be not rising because
00:02:05.220 of tariffs.
00:02:06.300 And by the way, remember the Walmart study done by the Wall Street Journal?
00:02:09.300 Well, 10,000 items at Walmart had not gone up in price for the American consumer.
00:02:14.140 So when Rachel Maddow says, oh, the tariffs are hurting the American consumer for goods,
00:02:19.800 tell her she's full of crap, just like you say to her when she says anything else.
00:02:22.620 Yes.
00:02:22.760 Now, we go back here to China and this.
00:02:27.000 This is 90 days.
00:02:28.160 So the U.S. has apparently seen enough or heard enough that they're going to do it.
00:02:34.420 And this is, they're going to put this pause in place to put something together.
00:02:38.320 And what Scott Besson, he was saying the consensus from both delegation is neither side, you know,
00:02:44.940 wants long-term trouble.
00:02:46.360 And so that's the right thing to say in front of the microphone.
00:02:49.200 I want to see the terms and conditions.
00:02:50.860 I want to see what happens.
00:02:52.780 But the market sentiment is good.
00:02:55.620 And it also means that Walmart and others that were holding the prices level and not
00:03:02.300 raising them on the consumer, they're now going to get a little relief on their stock
00:03:06.020 price because their costs won't be going up because they won't pay the tariff that they
00:03:09.700 said they were going to pocket and just say, I'll eat it and put it out.
00:03:14.120 So this is good for the market.
00:03:15.860 This was good in the short term, good for the consumer in the short term, and good for
00:03:21.940 companies that were going to have it.
00:03:23.760 Who caved, Tom?
00:03:25.100 I think China caved.
00:03:27.260 Yep.
00:03:27.720 I think China caved.
00:03:29.000 Tell me why.
00:03:29.700 I'll tell you why.
00:03:30.420 Because they've been doing little things behind the scenes, such as I brought up the one that
00:03:37.680 I finally found people talking about, the chemical that is in plastic that becomes ethylene that
00:03:48.060 we talked about, we go ethylene, ethylene, I think it's called, and it gets processed and
00:03:52.980 it makes ethylene, which leads to polyethylene, and that's plastic.
00:03:57.560 And the Chinese dropped the tariff from like $145 to $0 because they said, yeah, we need
00:04:04.260 to make plastic, and they can't get that.
00:04:06.260 Aside from that, Tom, who caved?
00:04:07.680 I think-
00:04:08.520 You think China caved?
00:04:09.500 I think, well, I think China caved, but I'll say I also think that we had seen the market
00:04:16.260 moving and we saw the sentiment, and I think we put a little strategy into this as well
00:04:22.960 to give everybody a little bit of a break.
00:04:25.160 Okay.
00:04:25.600 Adam, thoughts?
00:04:26.280 So, who needs who more?
00:04:27.940 China needs the United States, or does the United States need China?
00:04:31.020 Well, if you look at it from a business perspective, in essence, who is the client, who is the customer,
00:04:36.440 and who is the buyer and who is the seller?
00:04:37.600 We buy the majority of our stuff from them.
00:04:39.300 So, they need us more than we need them in terms of import-exports.
00:04:44.960 Like, we're their number one customer.
00:04:47.700 I mean, they're selling us stuff.
00:04:50.060 America is in a consumption economy.
00:04:52.060 That's why we all, these trade deficits that you hear, we haven't got a trade deficit with China and with Canada and Mexico because we're buying a lot of stuff.
00:05:00.400 So, China is probably looking at U.S. being like, dude, they're going to stop buying from us.
00:05:04.860 Didn't they just move all their Apple iPhones?
00:05:07.580 It's going to India. 0.88
00:05:08.160 They're just going to India.
00:05:09.220 How bad can this get?
00:05:10.480 I don't know.
00:05:10.780 Could it go to Bangladesh?
00:05:11.620 Could it go to Vietnam?
00:05:12.400 I don't know.
00:05:13.460 So, on one hand, China has way more control over their people.
00:05:17.920 And as she has already warned their people, like, brace for impact, it could get bad.
00:05:22.480 But at the same time, they don't want to crumble.
00:05:24.760 So, they're probably looking at the U.S.
00:05:25.920 They're saying, they're almost like staring at each other, having a staring contest.
00:05:29.720 And is Trump going to blink?
00:05:31.300 And Trump did not blink.
00:05:32.880 Now, this isn't a resolution.
00:05:34.720 They haven't come to any sort of agreement.
00:05:36.640 It's a pause.
00:05:37.800 You know, we talked about on the live podcast, Trump needs some wins.
00:05:41.140 Trump's had a pretty good week.
00:05:42.580 Weekend?
00:05:43.080 Yeah.
00:05:43.380 What do you mean?
00:05:43.720 Four things this weekend?
00:05:44.460 All right, Vinny.
00:05:45.140 Sorry.
00:05:45.480 It's only been three days.
00:05:46.480 All right.
00:05:46.660 It hasn't even been a week.
00:05:47.620 Excuse me.
00:05:48.120 Well, remember when we said, let him cook.
00:05:49.500 Let him cook.
00:05:50.060 And people were like, no.
00:05:51.080 This is happening way sooner than I anticipated.
00:05:53.860 It's not official yet.
00:05:54.800 But signs are moving in the right direction.
00:05:57.680 Okay.
00:05:57.960 The market likes it a lot.
00:05:59.700 I think it was them caving.
00:06:01.400 And by the way, he took them.
00:06:02.060 They were in Geneva, Switzerland.
00:06:04.260 Chilling.
00:06:05.000 Nice.
00:06:05.620 China.
00:06:05.980 I think it was them, Pat.
00:06:06.740 Because like we've been saying, we're not seeing what China's going through.
00:06:09.800 It's just China's not. 0.92
00:06:11.180 What video have you seen of China and the way of life?
00:06:13.920 They are struggling.
00:06:14.880 You can't see things from China.
00:06:16.740 They don't let it get out to the public.
00:06:17.060 Well, that's what I'm saying is I think they caved.
00:06:19.300 And mind you, this is all China's way. 0.96
00:06:22.920 I don't know.
00:06:23.280 P.B.
00:06:23.480 I want to know what you think.
00:06:24.300 So let's go to this article here.
00:06:26.220 Okay.
00:06:26.520 Trump's China deal makes sense.
00:06:28.660 How he got here doesn't.
00:06:30.500 Okay.
00:06:30.820 Go a little bit lower.
00:06:32.400 And let's go from, go a few more paragraphs lower.
00:06:37.760 Boom, boom, boom, boom.
00:06:38.300 Everyone talking about the destination of China.
00:06:39.800 His original reciprocal tariffs announced April 2nd were meant to punish countries in proportion to their trade deficits.
00:06:46.860 Can you zoom in a little bit more right now?
00:06:48.240 Okay.
00:06:49.020 With the U.S., China at 34% got one of the highest major economies.
00:06:55.760 Britain got the minimum 10% universal tariff.
00:06:58.060 Hitting Britain a stalwart ally with open markets with any tariff would have been unimaginable before this year.
00:07:03.720 And yet it officially bears the same 10% reciprocal tariff as China, though it ran $12 billion deficit with the U.S. last year.
00:07:11.800 While China ran a $295 billion surplus last year.
00:07:15.580 So meaning we made money off U.K., we lost $300.
00:07:19.020 Not lost.
00:07:19.680 They made $300 billion more than we did.
00:07:21.820 With the deal with U.K., we made $12 billion more than they did.
00:07:25.160 Okay.
00:07:25.320 So true, China's 10% is on top of the 20% put in place a few months earlier, but that 20% is officially tied to China's role in the flow of fentanyl to U.S.
00:07:33.480 Trump's officials say China has shown readiness to act on that problem, yet Canada and Mexico, who have already acted, are being hit with more at 25%.
00:07:41.780 Another inconsistency, Trump promised to ratchet up tariffs further on countries that retaliate.
00:07:46.240 China did, and Trump responded by eventually jacking his reciprocal tariff to $125.
00:07:50.980 Now he slashed it to 10%.
00:07:52.520 That wasn't because of concessions from China, but the mourning domestic costs.
00:07:56.880 He backed off his reciprocal tariffs on most countries except China when the stock and bond market took fright and now has backed off of most of his tariffs in China amid warning of empty shelves, plunging container traffic, and small business failures.
00:08:11.040 There's an irony here.
00:08:11.980 Dependence on China has long been flagged as a potential national security vulnerability for which tariffs can be justified,
00:08:18.580 but that same dependence is what makes decoupling, no matter how mild, painful.
00:08:25.500 Trump's walk back on tariffs shows there are limits on how much pain Americans are willing to take.
00:08:32.900 Tom, thoughts?
00:08:33.720 So let's go look at something, what was happening behind the scenes.
00:08:36.720 You asked who caved.
00:08:37.580 Do you have that link?
00:08:38.660 Yes, I do.
00:08:39.060 Right there?
00:08:39.440 Let's pop that up.
00:08:40.200 And if you could scroll down just below the picture of the two presidents and get to that paragraph that's just below it.
00:08:47.720 Okay.
00:08:48.280 Scroll down.
00:08:49.860 Just below it.
00:08:50.780 And we're going to read this.
00:08:51.640 There it is.
00:08:52.160 Okay.
00:08:53.820 Right here.
00:08:54.960 Nope.
00:08:55.520 Back up.
00:08:56.540 Okay.
00:08:56.840 Here it is.
00:08:57.320 Last week, Chinese officials granted exemptions.
00:09:00.380 This wasn't asking us.
00:09:02.620 It was them talking to their own companies, apparently.
00:09:06.660 Pharmaceuticals, microtrips, aircraft engines.
00:09:08.900 And we're asking firms to identify critical goods they need levy-free.
00:09:14.060 And scroll up to the top of it, please.
00:09:16.040 And now I mispronounced it.
00:09:17.480 Not ethane.
00:09:18.120 It's ethane.
00:09:18.900 It was U.S. ethane because there was five of their top – right back there, right back there.
00:09:23.980 Stop.
00:09:24.400 Stop.
00:09:24.780 There you go.
00:09:25.200 Five of their top ten chemical companies says, we need this frickin' ethane from the U.S. so we can make plastic and stuff.
00:09:32.920 And so China behind the scenes, I didn't think they caved, but they sure were putting a lot of exemptions out before it even happened.
00:09:40.600 But I still don't trust them as far as I can throw them.
00:09:42.600 Yeah.
00:09:42.860 I mean, look, I'm going back again, and I'm reading what's the book by Robert Hiltz – what's the book's name, Brandon?
00:09:49.720 Lighthouser.
00:09:50.500 Lighthouser.
00:09:51.460 And this book is purely on trades.
00:09:53.300 I think everybody needs to read it.
00:09:54.740 He was the one that was doing the trade deal on the first time with Trump.
00:09:58.640 No trade is free.
00:10:00.320 Changing course, taking on China, and helping America's workers. 0.97
00:10:03.740 Okay?
00:10:04.640 And going back and forth on how the trade deal took place with them, what did we want from this trade deal?
00:10:10.800 Like, if you think about what is our concern with China?
00:10:13.060 We wanted the world's dependency not to be on China, okay?
00:10:16.900 So move it out from them to different places.
00:10:20.680 We wanted them to not agree on certain things when it's coming down to intellectual properties that they're stealing and not agreeing to the terms, contracts.
00:10:30.120 We wanted a few other things with them in regards to the tariffs where, you know, you're acting like, you know, that $300 billion, you know, what do you call it, the trade deficit that we have?
00:10:41.880 How much of it was made up?
00:10:42.940 I don't know if any of it's going to be made up.
00:10:44.800 That $297 billion deficit is going to be still a $297 billion deficit.
00:10:49.620 So what are we doing that they're buying from us as well in return?
00:10:52.840 And what level of commitment was made there?
00:10:54.800 I don't know.
00:10:55.500 Again, this is why I said I want to know the terms.
00:10:58.800 Because it's very easy sometimes to celebrate and see that you are so easily excited just because the market goes back up and your 401k went from $220 to $278, and you're comfortable now.
00:11:12.320 You're not worried.
00:11:12.840 Or your account went from $10 million to $11.6 million, and you're comfortable.
00:11:17.080 You're not worried.
00:11:17.760 No.
00:11:18.540 I'm still concerned with the relationship with China.
00:11:20.820 A guy like me, I'm still concerned.
00:11:22.360 I still don't trust these guys.
00:11:24.320 And I understand that they want to be respectful while they're negotiating and all this other stuff.
00:11:29.280 I just hope this 90-day, what happened to Iran back in the days when under Trump, it was so close and Iran fallen, and there being a revolution because of the sanctions.
00:11:39.980 So close of something taking place.
00:11:43.820 He loses, Trump's out, Biden comes in, Iran's a free-for-all again, back to the same exact situation. 0.95
00:11:49.400 It was this close.
00:11:49.940 I think the pain was very close to even a bigger deal getting done, but because of optics, we agreed to this, and I think in the next 90 days, the pain is going to go back to them being able to tolerate another 90 days or 180 days come 90 days from now.
00:12:09.920 So what's 90 days from now?
00:12:11.300 Go to June, July, August, August 8th, August 10th, let's just say, whatever, 11th.
00:12:16.360 So August 11th, now we start negotiating hard again.
00:12:19.700 They can go four more months, September, October, November, December.
00:12:23.400 All right, now it's 2026.
00:12:25.060 Now everyone's campaigning for midterms.
00:12:26.780 You lost leverage.
00:12:28.000 Yep.
00:12:28.620 That's my opinion, Tom.
00:12:30.040 My opinion is the fact that the pain that you had to be able to make a bigger ask because of pure optics, hey, we need to show the market doing well.
00:12:38.380 You know, today's what, 930, 944.
00:12:40.640 How's the market doing right now, Tom?
00:12:41.840 Have you looked at it?
00:12:42.460 It should be flat or down?
00:12:44.440 Down 154.
00:12:45.480 Yeah, but it's profit taking on the pop yesterday.
00:12:47.760 Sure, totally get it.
00:12:48.580 So down 154.
00:12:51.320 And yeah, this number right here, top 10 countries with the biggest trade surplus.
00:12:54.420 Look at that.
00:12:55.040 It's not even close.
00:12:56.120 China, 600 billion.
00:12:57.860 Okay, so you're looking at, and then go to India.
00:13:00.000 Look where India's at. 1.00
00:13:01.080 Where's India? 0.87
00:13:01.960 It's not even on the list.
00:13:02.900 Not even on there.
00:13:03.140 No, that's Ireland.
00:13:03.780 It looks like India, but it's Ireland.
00:13:04.880 So look at India. 0.87
00:13:06.100 It's not even, Australia's ahead of India.
00:13:08.600 So what does that mean?
00:13:10.240 Probably better terms when you negotiate with India. 0.96
00:13:13.340 And they have a bigger control manufacturing around the world, China.
00:13:16.800 They have a better, you know, structure, better system to be able to, you know, handle more business.
00:13:22.720 But my biggest concern was the pain of negotiation is officially gone, and you're not going to have it come January 1st.
00:13:29.860 You're not.
00:13:31.040 There's a story in here that we did in Circle to talk about, and it says the fact that Trump's already eyeing midterms.
00:13:38.020 And none of you guys marked that.
00:13:39.440 You guys wanted to talk about that story.
00:13:40.620 I don't blame you.
00:13:41.100 It's not like it's a big story.
00:13:42.460 But he's already eyeing midterms.
00:13:44.220 Why is he eyeing midterms?
00:13:45.880 Okay.
00:13:46.220 If you looked at the tax deal that he did, I was reading the entire tax at the time.
00:13:49.500 I don't know if you went through it or not.
00:13:51.060 It's very interesting some of the things that they did here.
00:13:52.900 But anyways, to just close this and go to the next story, Adam, you look like you wanted to say something about this.
00:13:56.760 I just want to say one thing.
00:13:58.160 You know, Trump is cleaning up past presidents' mess.
00:14:00.720 You know, who created this mess we have in China? 1.00
00:14:02.960 I could argue that it's a lot of U.S. presidents, whether it was starting with Nixon opening up relationships with China, I believe, in the late 60s, early 70s.
00:14:11.420 And then I think Jimmy Carter in the 70s officially recognized the CCP.
00:14:17.660 Bill Clinton, I think, was the person that at least started them getting into the WTO, the World Trade Organization.
00:14:24.100 And I think then it happened under George W. Bush.
00:14:27.200 And then you had Barack Obama that didn't confront China at all, it would seem.
00:14:31.460 So Trump is coming in and basically saying we're going to clean this mess up real quick.
00:14:35.820 So the good, the bad, the ugly, I think we're about to find out.
00:14:38.440 But if you look at small businesses, here's this article from The Wall Street Journal, how tariffs are crushing small businesses.
00:14:45.620 They're basically saying that the Chamber of Commerce has requested tariff exemptions for small businesses.
00:14:52.160 Small businesses are apparently closing or expect to shut down from a lack of support.
00:14:57.240 But if you look on Main Street, Brandon, if you pull up the fear-greed index that I text you.
00:15:02.460 A little better.
00:15:03.300 66, 64.
00:15:05.220 Yeah.
00:15:05.500 So this is the first time I texted you, Brandon.
00:15:07.580 This is the first time that I've seen the fear-greed index indicate a little bit more greed.
00:15:16.340 A month ago, fear was the resounding narrative in the markets right now.
00:15:22.000 This is the first time I'm seeing greed.
00:15:23.200 69.
00:15:24.100 If you scroll down, Elon Musk will like that number.
00:15:26.960 If you scroll down, you could see that I think it was the lowest I'd almost ever seen on the fear.
00:15:33.200 It was almost a 2.
00:15:33.980 You know, 1 to 50 is on the fear side, and then 51 to 100 is on the greed side.
00:15:40.620 So Americans are basically saying, you know what?
00:15:42.280 I'm not as scared as I was a month ago.
00:15:45.000 But for what it's all worth, and I understand, and Pat, my thing is with China, just with anything, 0.70
00:15:51.320 something I feel personally something's going to be happening here because these guys are not going to go quiet.
00:15:56.500 And, like, what is going to be their next thing?
00:15:59.560 If anybody, it doesn't just have to be China, something, they need to do something to try to cripple us. 0.99
00:16:04.600 Because just this weekend, I mean, how much winning did we do this weekend?
00:16:07.960 In 48 hours, he got the hostage, you know, pharma, this deal, 90-day pause.
00:16:14.300 I mean, how much more stuff can he do to make himself look good?
00:16:17.440 Now he's off in the Middle East.
00:16:19.140 You're going to win so much, baby.
00:16:20.380 No, he's kicking out.
00:16:21.120 You're going to be begging to lose.
00:16:22.280 But hold on.
00:16:22.720 Remember a week ago, everybody was losing their minds.
00:16:24.740 Oh, my God.
00:16:25.520 What is he doing, tariffs?
00:16:26.700 Now everybody in CNN and everybody in mainstream media is changing their tune because now they have to give him credit.
00:16:32.240 So we'll see.
00:16:32.980 They don't want to.
00:16:33.540 I'm with you, though.
00:16:34.200 I don't trust China.
00:16:34.920 Do you think China is capable of doing something insane?
00:16:38.180 No, they won't, though.
00:16:39.180 Now they won't.
00:16:40.280 Now they won't because of what happened.
00:16:41.860 But that doesn't mean we got what we wanted because now you gave them a lifeline.
00:16:51.940 That's the only thing.
00:16:52.960 Remember, it goes back to that arcade game.
00:16:54.640 You go, finish line.
00:16:55.880 Boom, you got 45 more seconds to raise.
00:16:57.700 You got 45 more seconds.
00:16:58.920 We just gave them an additional seven months that they can tolerate pain.
00:17:03.000 They don't care about their people like America does. 0.92
00:17:04.780 Yep.
00:17:05.540 So to them, that's my only, again, not in the inside.
00:17:10.900 I don't know what's going on.
00:17:11.940 I don't know what terms are being negotiated.
00:17:13.340 If I have to bank on anybody negotiating on our behalf, it's Trump and his people.
00:17:17.280 I'm very confident with what they're capable of doing.
00:17:19.540 All I'm saying is, I don't know if this 90-day is going to get us back to some of the stuff
00:17:26.720 that Nixon, Clinton, some of these other guys did in the past.
00:17:29.940 I don't know if that's going to happen.
00:17:31.720 You can't let just the market going up fool you that the right things were done.
00:17:35.160 And I'm a guy that is supportive of who this guy is.
00:17:38.800 I just fully know you're 47 years old.
00:17:41.980 You're 45 years old.
00:17:43.280 Okay, Tom, you're 59 years old.
00:17:44.700 I'm 46 years old.
00:17:46.320 I'm getting younger.
00:17:47.060 Okay, you know what we got?
00:17:48.340 We got a lot of living to do.
00:17:50.160 And guess what's going to happen next 30 years?
00:17:52.460 China ain't going away.
00:17:53.520 Nope.
00:17:53.880 I do not want them to get any stronger than they are right now.
00:17:56.980 I don't.
00:17:57.600 I don't trust their, you know, they say you want to test a man's character, give him what?
00:18:04.620 Money.
00:18:05.100 Power.
00:18:05.340 No, power.
00:18:06.140 Oh, okay, my bad.
00:18:07.000 Guess what we learned during COVID with them?
00:18:08.820 They had power.
00:18:09.700 What did they do?
00:18:10.620 We learned about them.
00:18:11.600 You still want to trust their character?
00:18:13.120 I don't trust their character.
00:18:14.280 Me neither.
00:18:14.720 So to me, the kicking the can because you just want a good midterms or you want good
00:18:19.720 news going into Saudi, who gives a shit what the market's going to be saying and what the
00:18:24.180 media is going to be saying?
00:18:25.160 Anyways, I know you guys would have never thought I was going to say something like this, but
00:18:29.420 No, you're right.
00:18:30.540 There's two measurements, right?
00:18:31.740 There needs to be less reliance on China and jobs in America. 0.98
00:18:35.080 That was the stated goal.
00:18:37.440 You listen to the White House.
00:18:38.640 We need jobs in America, American-made products and American-made suppliers, and we need less 1.00
00:18:44.940 reliance.
00:18:45.580 Well, we got there a little bit with India, which has been a long time coming, like Apple's
00:18:49.460 been moving toward India for a while.
00:18:51.540 We got some of that.
00:18:52.800 China's not happy about that.
00:18:54.140 Now we got to get to suppliers in America, jobs in America, and less reliance on China, 0.80
00:18:59.080 which means a weaker China.
00:19:00.000 We got to get there.
00:19:00.580 We need all of them.
00:19:01.260 It's not just the market.
00:19:02.220 I hope you're right.
00:19:03.500 I'm just staying a little bit paranoid because they destroyed the world for a year and a
00:19:09.680 half.
00:19:10.800 They destroyed memories.
00:19:12.320 I will never forget.
00:19:13.400 Listen, you know how I feel about business owners.
00:19:16.220 To me, I have a very special place in my heart for business owners because I know how
00:19:20.240 hard it is.
00:19:21.120 Yesterday for me was an 18-hour day, and I loved it.
00:19:24.380 Guy asked me a question.
00:19:25.200 What are you doing here at 1230?
00:19:26.240 We had a private jet that we're trying to get on a flight to come back from Orlando and
00:19:29.880 what do you call it?
00:19:31.680 The weather hits, and we can, so we rent a used Dodge Ram and a whatever the other Kia
00:19:36.200 was.
00:19:36.580 We get on the car three hours.
00:19:37.760 We drive here.
00:19:38.320 We go to a place called Firehouse.
00:19:39.620 We buy Subway three hours on the car.
00:19:42.120 We're just on the phone talking to a bunch of different people, and then we get back
00:19:44.660 here.
00:19:44.900 We'll do a podcast with George Enko.
00:19:46.720 We go for two hours.
00:19:47.860 And then boom, I'm on the phone back.
00:19:50.500 Small business owners sacrifice time away.
00:19:53.640 Their 401ks, their savings, their mortgage, the money that they have in a property.
00:19:57.540 China destroyed tens of thousands of restaurants in America, hundreds of thousands of businesses
00:20:05.400 in America and around the world.
00:20:07.000 People who couldn't see their kids.
00:20:09.600 People couldn't see their grandkids.
00:20:12.200 Your grandmother's about to die in a hospital. 1.00
00:20:15.120 You can't go see them because of COVID.
00:20:17.100 These policies in America done by guys like Fauci and others, and then what those guys
00:20:23.940 did from China to disrupt the entire world, and you want me to be able to, now I'm going 1.00
00:20:29.860 to hold you accountable to it.
00:20:31.220 And all I'm going to say is, I just want to make sure in the future you never do anything
00:20:34.500 like that again.
00:20:35.160 There's got to be a level of accountability.
00:20:36.920 Can't have you have to have too much power.
00:20:39.540 I can't.
00:20:40.440 We can't have you have too much power.
00:20:41.680 You know how powerful they are?
00:20:42.820 They're still not accountable.
00:20:44.120 And everybody knows it came from there.
00:20:46.540 Zero accountability.
00:20:48.100 China flu, ladies and gentlemen, whatever, bro.
00:20:50.220 I'm not okay with that.
00:20:50.980 But anyways, we'll see.
00:20:51.940 I'll stay skeptical.
00:20:52.920 I'm very, I'm hoping I'm wrong.
00:20:55.300 I'm hoping I'm wrong, and I'm hoping all the trade deals and everything that's being
00:20:58.360 done is done perfectly well.
00:20:59.980 It's going to be great.
00:21:00.600 I just hope I'm wrong.
00:21:02.680 The Lemon Campaign has become a massive hit.
00:21:05.620 This is a gift that gets sent to people who are maybe going through a challenge and season
00:21:09.720 right now with a lemon hat, with the whole campaign.
00:21:12.360 The thought is about when life gives you lemons, which a lot of people have had that maybe
00:21:16.200 recently.
00:21:16.640 If you know anybody, it is so amazing because you get to write a message on the inside while
00:21:20.720 you're sending it to someone, and it brightens their day.
00:21:23.140 There's a message I'm giving to the person that's receiving it.
00:21:25.580 I want to read you a couple of the notes without the names, but I want you to hear what this
00:21:28.220 is doing.
00:21:29.960 I know things have been rough for you, but I hope this gift puts a smile on your face and
00:21:33.300 some encouragement.
00:21:34.000 You are amazingly talented, and I know you will make it through.
00:21:36.860 Hang in there.
00:21:37.420 Love, ma.
00:21:39.080 Brother, I know life has been challenging.
00:21:41.080 I want to say I'm proud of you and keeping everything together, staying true to yourself.
00:21:45.340 I love you, and I know you can shoulder this, and we'll be a better person about it.
00:21:49.460 You ready for this next one?
00:21:50.800 This next one's awesome.
00:21:52.340 You are one of the strongest people I know.
00:21:54.260 Your recovery from brain surgery has been difficult, but you are getting stronger every
00:21:58.300 day.
00:21:58.680 Our son watches you during process and sees the warrior his mom is.
00:22:03.660 We love you.
00:22:04.300 Happy Mother's Day.
00:22:05.720 Wow.
00:22:06.500 And happy birthday.
00:22:07.560 Wow.
00:22:08.160 Wow.
00:22:08.920 Geez.
00:22:09.200 Shout out to that mom. 1.00
00:22:09.920 Mother's Day and happy birthday.
00:22:11.440 And recovery.
00:22:12.180 So I'm so in love with this product and what it's doing to families.
00:22:14.640 If you haven't gone yet and send one of these to someone, it's called Zested Forward.
00:22:18.720 We have the link right there on vtmerch.com.
00:22:21.100 And on top of that, new merch here.
00:22:22.800 This will fly in no time because we only did limited supply of this.
00:22:26.340 For those of you guys that just want to go to work and wear something to get reaction
00:22:29.200 from others, we have the new limited edition Golf of America hat.
00:22:32.980 It used to be Golf of Mexico Cross stuff.
00:22:34.620 Now it says Golf of America.
00:22:36.180 Okay.
00:22:36.500 We have different versions of it.
00:22:38.120 Another one that says Golf of America, Golf of Mexico.
00:22:40.080 On the side, it says Future Looks Bright.
00:22:41.500 On the back, it says Valuetainment.
00:22:42.660 That's sick right there.
00:22:43.280 And this one is sick.
00:22:44.060 This is my favorite.
00:22:45.140 Oh, I love that one.
00:22:45.640 This is going to fly off the shelves.
00:22:48.060 Golf of America, Valuetainment, red, white, and blue.
00:22:51.700 This is legit.
00:22:52.480 And then we got the shirts to match the hats.
00:22:55.460 This is where it's at.
00:22:56.540 So go place an order.
00:22:57.800 Anything above $100 shipping and handling is free.
00:23:00.180 But anything you place the order, you will get.
00:23:02.480 Oh, by the way, this goes with the hats.
00:23:03.720 Check this out.
00:23:04.180 Look at this.
00:23:04.780 Put this with the hat.
00:23:05.800 That is actually pretty sick right there.
00:23:06.860 That works.
00:23:07.660 Okay.
00:23:07.960 That's actually pretty sick right there.
00:23:09.160 Together.
00:23:09.980 Anyways, go to vtmerch.com.
00:23:12.160 Place your order.
00:23:13.940 Keychain.
00:23:14.460 Zoom in on the keychain so that they can see it.
00:23:16.460 A Valuetainment and U.S. keychain will be sent to you right there.
00:23:19.860 Zoom in a little bit on that keychain.
00:23:21.040 There you go.
00:23:21.380 Check that out.
00:23:21.800 It's pretty sick.
00:23:22.360 So go to vtmerch.com.
00:23:23.720 Place your order.
00:23:24.880 Let the world know.
00:23:25.660 It's officially Golf of America.
00:23:27.240 If you enjoyed this video, you want to watch more videos like this, click here.
00:23:30.200 And if you want to watch the entire podcast, click here.
00:23:34.180 It's一樣.
00:23:35.740 Bye.
00:23:35.820 Bye.
00:23:40.080 Bye.
00:23:40.580 Bye.
00:23:41.280 Bye.
00:23:43.180 Bye.
00:23:43.660 Bye.
00:23:44.040 Bye.
00:23:44.400 Bye.
00:23:44.580 Bye.
00:23:45.060 Bye.
00:23:45.300 Bye.
00:23:45.560 Bye.
00:23:46.060 Bye.
00:23:46.620 Bye.
00:23:47.020 Bye.
00:23:47.200 Bye.
00:23:48.000 Bye.
00:23:48.120 Bye.
00:23:48.600 Bye.
00:23:49.100 Bye.
00:23:49.660 Bye.
00:23:52.220 Bye.
00:23:53.280 Bye.
00:23:54.000 Bye.
00:23:54.200 Bye.
00:23:55.280 Bye.
00:23:56.140 Bye.
00:23:57.060 Bye.
00:23:58.280 Bye.
00:23:59.160 Bye.
00:23:59.700 Bye.
00:23:59.860 Bye.
00:24:00.140 Bye.
00:24:00.580 Bye.
00:24:01.100 Bye.
00:24:01.800 Bye.